UWM Holdings Co. (NYSE:UWMC) Receives $7.29 Average Price Target from Analysts

UWM Holdings Co. (NYSE:UWMC) has been given an average rating of “Reduce” by the seven brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.29.

A number of research analysts recently commented on UWMC shares. BTIG Research raised their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Wedbush lifted their price target on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Barclays lifted their price target on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th.

UWM Price Performance

Shares of NYSE:UWMC opened at $9.25 on Wednesday. The firm’s 50 day moving average is $7.77 and its two-hundred day moving average is $7.17. UWM has a 52 week low of $4.49 and a 52 week high of $9.43. The firm has a market capitalization of $884.10 million, a P/E ratio of 308.33 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts anticipate that UWM will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.32%. UWM’s dividend payout ratio is currently 1,333.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd raised its holdings in shares of UWM by 124.3% during the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after purchasing an additional 30,361 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of UWM by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after purchasing an additional 3,207 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Azora Capital LP bought a new position in UWM in the 4th quarter worth $6,705,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in UWM by 2.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock worth $1,985,000 after acquiring an additional 5,478 shares during the period. Institutional investors own 53.59% of the company’s stock.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.